Report: #489303

Complaint Review: York Street Properties

  • Submitted: Thu, September 03, 2009
  • Updated: Sat, October 03, 2009
  • Reported By: REO Investor — Dallas Texas USA
  • York Street Properties
    Dallas, Texas
    United States of America

Show customers why they should trust your business over your competitors...

In another article I was reading on York Street Properties and Lance Puig, the term "Ponzie Scam" was mentioned.

Running out of money for mortgage payments, home remodeling, home repairs, payment to service providers and adequate property management is symptomatic of a Ponzie Scam and not just bad management. Particularly if the only way you can "stay alive" is to find new investors for the scam.

Investors like me are profiting from the dishonest, self-professed "Real Estate Gurus" of past. I feel sorry for the victims and have nothing but disdain for the perpetrator(s).

Hopefully your vigilance and the action of authorities in Texas will prevent similar unprofessional and despicable acts in the future.
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This report was posted on Ripoff Report on 09/03/2009 02:14 AM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

FACTS are FACTS - Thank You RipOffReport !!!

AUTHOR: Dallas Investor - (USA)

A GREAT many people have been hurt by Lance Puig & Companies. 100's of thousands of dollars in unpaid debts to Service Providers; Millions of dollars of exposure and/or losses to investors; False representations to Tenants that York Street Properties owns houses and will sell them to tenants after paying rent timely for 6 months; 10's of thousands of dollars in unreimbursed expenses to Tenants for repairs and Breach of contract in numbers of ways, to mention a few.

Lance Puig and companies operate in an unconscionable manner that violates the principals of law and decency.

This is what websites like "" are all about - helping people when people and companies such as Lance Puig & York Street Properties refuse to honor agreements.
THANK YOU RIPOFFREPORT !!!!!!! your forum to voice, discuss and seek resolutions to corporate ripoff artists is appreciated by thousands, if not millions of users and readers worldwide !!!!!!!

WAKE-UP LANCE PUIG: There are over 900 readers on [just 1 webpage] of complaints already. These complaints will not stop so long as you continue to have unpaid obligations, deal with people dishonorably and seek out more people and companies to do the same to. Take care of your obligations and treat people with fairness according to the law & principals of fairness and these complaints will go away. This is not the work of a single person - you have many skeletons in your closet that have remained silent until now.

York Street Properties has 1 official employee, its "CEO", Lance Puig. It's obvious he would rather continue his practices of deceit, cover-up and harm rather than taking the path of honesty and good faith.

Everything in the report filed on RipOffReport is true and the advice given is sound and honest - do your homework before doing business with Lance Puig and Companies! The facts are; Federal charges have already been filed by one Investor and more are on the way. State and County prosecuting attorneys are investigating and receiving information. BBB has revoked York Street Properties accreditation to prevent others from being duped. Local media is gathering information for an investigative report. Tenant organizations are advised that renting from York Street Properties is dangerous and rent-to-own promises are historically fraudulent.

AGAIN, Thank You RipoffReport !!!!!!!!!!!

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#2 REBUTTAL Owner of company

Notice of Arizona Lawsuit

AUTHOR: Counsel for York Street Properties and Mr. Puig - (USA)

Our law firm represents York Street Properties, Inc. and Lance Puig (the Puig Parties).  The Puig Parties have recently filed a lawsuit against you and others for false and defamatory statements posted on this website.  The lawsuit was filed in the Superior Court of Arizona, in the County of Maricopa.  The case number is CV2009-030692. 


The Puig Parties have served a subpoena on Xcentric Ventures, LLC (Xcentric), the company that owns and operates this website, to reveal your identity.  The Puig Parties have also served a motion to request the Court compel Xcentric comply with the subpoena.  Arizona law requires that you be provided notice of the discovery request via the same medium that the false and defamatory statements were originally published.  By this post, I hereby give you notice of the Puig Parties pending discovery request.


You have a right to file and serve an anonymous response to the discovery request anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before October 31, 2009.




Joseph M. Nathan, Esq.

Lynn Tillotson Pinker & Cox, LLP

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AUTHOR: Dallas Investor - (USA)

Since there's only one official employee of York Street Properties, Lance Puig, I'll assume the little blog by "York Street Official Response" cam from him. Here's my thoughts on the subject and the facts:

1) When I and my fellow contractors are paid the approximately $600, 000.00 owed to us (spanning as much as 2 years or more), then you can make the such claims. As for communications and names; you've been communicated with so many times without response it's frightening. As for names, look at the hundreds of invoices and statements we've sent you over time instead of putting the in the garbage. Have a look at your accounts payable records, if you bother to records your debts propertly.

2) Why did so many of the Investors loose their house to repossession? Why did you not pay the mortgages even after the Tenants paid you the rent? You want to communicate with the Investors? Why don't you return their calls, tell them the truth and get their
money and credit ratings back?

3) Why have tenants lived in sub-standard, un-repaired conditions? Worse yet, why have tenants been evicted from their homes
because you haven't paid the mortgages? Why haven't you been truthful with the tenants from the very beginning of their
contract, when you said they could buy the house on a rent-to-own basis - that's purely untrue and fraudulent, in fact.

You've always hoped that all the parties you have been cheating and lying to would never get together. Well guess what - WE HAVE !

Sir, these acts have been going on since 2006 and earlier. This is not something you can blame on the economy - you only have yourself, your dishonesty and your lack of respect for other people to blame.

The BBB has at least 8 serious complaints against your firm and your status with them has been revoked.

The Attorney General is now getting named complaints.

Banking Regulators and Lenders are also investigating with named complaints.

Local and national media is being briefed on the investigation by named sources.

Thank Heavens to the person who started this blog and the person who started the YSP VICTIMS GROUP - we applaud you for your efforts and persistence. However, this group is now about ALL the injured members, not a single "provocateur" as you suggest. You and your companies names are permanently defamed and besmirched - YOU HAVE NOBODY TO BLAME BUT YOURSELF.

We either want financial restitution or you in jail where you can't hurt more hard working Americans!
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YSP Official Response

AUTHOR: YSP Official Response - (USA)

York Street Properties vehemently disagrees with the assertions in these malicious, anonymous comments concerning our business conduct. While we do not wish to speculate as to someone elses motives, maybe the postings are motivated by the current multi-trillion dollar crisis in the domestic financial/real estate market. If thats true, their focus might be more appropriately directed elsewhere. York Street Properties, like nearly every person and business, suffered in 2008 and the early part of 2009. However, since late spring of this year the real estate market has started to improve and, to that end, our dedicated staff is redoubling its efforts to maximize opportunities for our customers during this improving real estate market. YSP has delivered for many satisfied customers over the past years and much of our business has come (and continues to come) from customer referrals.

YSP does not recognize the comments posted on this unaudited website (or on other non-accredited consumer advocacy) as legitimate and truthful, backed by fact. Only the Better Business Bureau refuses anonymous complaints; therefore, only the BBB is a reliable source of consumer information. Posting anonymously is not an effective, nor fair, way to deal with complaints. Moreover, it is not a normal means to address problems. Contrary to the outrageous claims made by these anonymous snipers, YSP values each of its customers and, when necessary, always welcomes the opportunity to work towards a mutually acceptable outcome. Although rare, when solutions have not been readily achievable, YSP has often refunded money. For years YSP conducted business without such attacks and now, all of a sudden, these anonymous hecklers post online (instead of seeking legitimate means of redress). Worse still, the defamatory material posted here has been copied and re-posted verbatim to other sites. YSP is currently investigating its options to resolve this issue and defend its unfairly besmirched name and urges any potential, existing or former customer (including those who have posted this material) to contact us directly.
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